TikTok has successfully completed its acquisition of a 75.01 percent stake in Indonesia’s largest e-commerce platform, Tokopedia, for $840 million, as announced by Indonesian tech conglomerate GoTo. This acquisition allows TikTok to relaunch its online shopping business, TikTok Shop, in Indonesia after it was previously forced to shut it down due to a government ban on online shopping through social media platforms. The deal integrates TikTok Shop’s Indonesia operations into the expanded Tokopedia entity, with GoTo highlighting the positive adjusted earnings in the final quarter of 2023, although specific figures will be disclosed later. GoTo, involved in ride-hailing, delivery, and financial services, also mentioned the possibility of conducting a share buyback as its profitability improves.